WPG Advisers LLC Takes Position in Shopify Inc. $SHOP

WPG Advisers LLC purchased a new stake in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) in the 1st quarter, Holdings Channel.com reports. The fund purchased 867 shares of the software maker’s stock, valued at approximately $83,000.

Several other large investors have also recently modified their holdings of SHOP. Nuveen LLC bought a new position in shares of Shopify during the first quarter valued at $667,392,000. Jennison Associates LLC raised its stake in shares of Shopify by 324.3% during the first quarter. Jennison Associates LLC now owns 5,280,781 shares of the software maker’s stock valued at $504,209,000 after acquiring an additional 4,036,326 shares during the last quarter. Durable Capital Partners LP raised its stake in shares of Shopify by 86.9% during the fourth quarter. Durable Capital Partners LP now owns 3,950,348 shares of the software maker’s stock valued at $420,041,000 after acquiring an additional 1,836,294 shares during the last quarter. Mackenzie Financial Corp raised its stake in Shopify by 19.7% during the first quarter. Mackenzie Financial Corp now owns 8,648,734 shares of the software maker’s stock worth $822,745,000 after buying an additional 1,426,406 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in Shopify during the fourth quarter worth $125,334,000. Institutional investors own 69.27% of the company’s stock.

Analysts Set New Price Targets

SHOP has been the subject of a number of analyst reports. Arete Research raised shares of Shopify to a “hold” rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada lifted their target price on shares of Shopify from $145.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Needham & Company LLC initiated coverage on shares of Shopify in a research note on Monday, July 14th. They set a “buy” rating and a $135.00 target price for the company. BMO Capital Markets lifted their target price on shares of Shopify from $120.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, Phillip Securities downgraded shares of Shopify from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 12th. Twenty-four analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.27.

Shopify Trading Down 0.2%

NYSE:SHOP opened at $141.28 on Friday. The stock has a market capitalization of $183.62 billion, a price-to-earnings ratio of 91.15, a PEG ratio of 4.82 and a beta of 2.63. The firm has a fifty day simple moving average of $127.97 and a two-hundred day simple moving average of $110.62. Shopify Inc. has a 12 month low of $65.86 and a 12 month high of $156.85.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Shopify had a net margin of 22.74% and a return on equity of 12.00%. The business’s quarterly revenue was up 31.1% on a year-over-year basis. During the same period last year, the company posted $0.26 earnings per share. Equities analysts predict that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Shopify Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.